PRICING SUPPLEMENT
Registration No. 333-08369-01
Filed Pursuant to Rule 424(b)(2)
United Parcel Service, Inc.
UPS Notes
Pricing Supplement No. 52 Trade Date: 01/27/03
(To Prospectus dated March 22, 2000 and Prospectus Issue Date: 01/30/03
Supplement dated December 20, 2001)
The date of this Pricing Supplement is January 28, 2003
CUSIP
or
Common Code Principal Amount Interest Rate Maturity Date Price to Public
----------- ---------------- ------------- ------------- ---------------
91131UFA7 $6,901,000.00 3.25% 07/15/08 100%
Interest Payment
Frequency Dates and terms of redemption
(begin date) Survivor's Option Subject to Redemption (including the redemption price)
---------------- ----------------- ---------------------- --------------------------------
02/15/03 Yes Yes 100% 01/15/04
monthly semi-annually thereafter
Discounts and
Proceeds to UPS Commissions Reallowance Dealer Other Terms
--------------- ----------- ----------- ------------------ -----------
$6,831,990.00 $69,010.00 $1.50 ABN AMRO Financial
Services, Inc.